What is the difference between a redevelopment project and a development project?

The main difference between a redevelopment project and a development project in Maryland is the legal authority needed for the project. A development project is typically a private project, such as a new shopping mall or housing development, that does not involve the government in any way. It is funded and developed by a private entity or entities. On the other hand, a redevelopment project is one that involves the government. This could include urban renewal projects, such as rebuilding poor or blighted neighborhoods, or any project that requires the use of eminent domain. In this type of project, the government will acquire the necessary land or property through eminent domain, and then the redeveloped area will be used for its designated purpose. In Maryland, the government may acquire land or property for a redevelopment project if it is deemed necessary to carry out the public purpose of the project. This means that a redevelopment project is more likely to involve a public-private partnership and requires more legal authority than a development project. The funds for the project can come from a variety of sources, such as local governments, the state, or the federal government. Overall, the primary difference between a redevelopment project and a development project in Maryland is the legal authority that is needed for the project. Development projects are usually private, while redevelopment projects often require the government’s involvement and acquire land or property through eminent domain.

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What is the difference between a redevelopment project and a development project?

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